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A. Joel Palk invested additional cash in exchange for common stock with a deposit of $37,000 in the business bank account. B. Paid $50,000 for
A. | Joel Palk invested additional cash in exchange for common stock with a deposit of $37,000 in the business bank account. |
B. | Paid $50,000 for the purchase of land adjacent to land currently owned by DLite Dry Cleaners as a future building site. |
C. | Received cash from cash customers for dry cleaning revenue, $33,375. |
D. | Paid rent for the month, $5,600. |
E. | Purchased supplies on account, $2,300. |
F. | Paid creditors on account, $21,800. |
G. | Charged customers for dry cleaning revenue on account, $85,250. |
H. | Received monthly invoice for dry cleaning expense for July (to be paid on August 10), $28,100. |
I. | Paid the following: wages expense, $7,600; truck expense, $2,000; utilities expense, $1,600; miscellaneous expense, $2,400. |
J. | Received cash from customers on account, $83,000. |
K. | Determined that the cost of supplies on hand was $6,000; therefore, the cost of supplies used during the month was $3,100. |
L. | Paid dividends, $11,000. |
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